The best money-transfer apps for Android and iOS

Easily settle your debts with these 10 money-transfer apps

We’ve all been there. You’re out to dinner with a group of friends, the check for the meal arrives, and to make things easier on the waitress, you put the whole tab on your credit card. While everyone agrees to pay you back “as soon as possible,” you realize a month later that you’ve seen nary a dime from your friends.

While we don’t blame you for wanting to send mobsters to your friends’ homes to get your money back, there is a far easier way to recoup your funds. In fact, all you need is a smartphone, and you won’t have to go through the trouble of calling your pal, Vito.

We’ve been researching secure and reliable ways to transfer money by phone. These are the best money-transfer apps to help you settle your debts.

The best

More than just a new popular verb — Venmo me! — this app makes it incredibly easy to send and receive money to and from family and friends. Any payments made from your Venmo balance, most debit cards, or a bank account, cost nothing to execute, and Venmo charges just a 3 percent fee for credit cards. It boasts a “bank-grade” security system, so you won’t have to worry about any shady hackers getting a hold of your financial information, either.

The rest

Facebook Messenger

There’s a feature in the Facebook Messenger app that allows anyone in the United States to send money through the app. When you’re chatting with someone, simply tap the dollar sign located above the keyboard, directly beside the tools for sharing photos and stickers. If you don’t see it, tap the ellipsis on the right-hand side to bring up a list of additional options. Once you’ve set up your debit or credit card, just type the amount of money you want to send and tap pay in the top-right corner.

If you live in one of the countries that support Apple Pay, and you have an iPhone, then you’re in luck. There’s no need to install a third-party app if your contacts also have an iPhone. In a conversation, simply tap the A symbol next to the camera icon and tap Pay. Select the amount and tap Pay. You can also request an amount from one of your contacts. Send the message just like you would any other, and it will ask you to confirm using FaceID, Touch ID, or a passcode. Apple Pay Cash is also compatible with iMessage on your Apple Watch, and you can even use Siri to send cash. While the money is available in your Apple Pay balance immediately, it does take a few days for it to transfer to your bank account.

The old Google Pay Send has been folded into Google Pay, which makes it easier than ever to send and request money from friends within the U.S. You can use your fingerprint sensor to access the app and choose to send or request money via the Send tab at the bottom right in the Google Pay app. Google Pay has a minimal and easy-to-understand user interface, and money can be transferred into the bank instantly. You can also request the same amount of money from up to five people at once and have the app split the charge for you, which is ideal for settling restaurant bills.

Venmo before Venmo existed, PayPal is one of the oldest money transfer applications available. Though receiving and sending funds can take a while longer, you can also use PayPal to pay for purchases at various establishments, and it’s capable of handling international transfers. It’s free for friends and family to send and receive money to and from each other.

Square Cash

With just a simple link to your debit card, Square Cash allows you to quickly send, receive, or request money from friends and family. Perhaps its most useful feature is how quickly money is deposited into your bank account once a transaction is complete.

Though Chase customers have access to a slew of banking options within Chase’s smartphone application, non-customers with valid email addresses also have the ability to send and receive money using the bank’s QuickPay feature.

Western Union

Not only does the Western Union app allow you to transfer money among friends and family, but it grants you the ability to send it to over 200 countries and territories. It also lets you know how much your money transfers should cost, and provides all Western Union branch listings.

You can safely, securely, and swiftly send money to friends and family in more than 140 countries with WorldRemit. It’s easy to use and the exchange rates are generally pretty decent. You can also choose how the recipient should receive the money, and they’ll get SMS or email alerts when the transfer is complete.

Bank of America

Bank of America’s smartphone application not only cuts down on the amount of time you need to spend at a branch but allows you to securely send and receive money to anyone (non-customers, too) via a phone number or email address.